LEDOUX MEDIA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LEDOUX MEDIA
Largest movements
- Receivables within one year +€87,532
up €87,532 (+172%), from €50,877 to €138,409
of which Trade receivables: +€85,226
- Cash +€48,646
up €48,646 (+69.8%), from €69,720 to €118,366
mainly Net result for the year (+€152,977) and Depreciation (+€78,902)
- Profit (loss) carried forward +€152,976
up €152,976 (+230%), from €66,407 to €219,383
- Debts after one year -€41,356
down €41,356 (-6.1%), from €683,467 to €642,111
of which Financial debts: -€47,776
- Tax, wage and social debts +€28,743
up €28,743 (+42.3%), from €67,923 to €96,666
of which Remuneration and social security: +€32,752
- Gross operating margin +€303,524
up €303,524 (+107%), from €283,465 to €586,989
- Staff costs +€156,417
up €156,417 (+131%), from €119,094 to €275,511
- Taxes +€39,684
up €39,684 (+593%), from €6,688 to €46,372
- Depreciation -€16,304
down €16,304 (-17.1%), from €95,206 to €78,902
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,101,177 | €1,243,523 | +€142,346 | +12.9% |
| Fixed assets | 21/28 | €978,012 | €983,135 | +€5,123 | +0.5% |
| Tangible fixed assets | 22/27 | €978,012 | €982,885 | +€4,873 | +0.5% |
| Land and buildings | 22 | €831,896 | €853,567 | +€21,671 | +2.6% |
| Plant, machinery and equipment | 23 | €4,360 | €10,341 | +€5,981 | +137% |
| Furniture and vehicles | 24 | €141,756 | €118,977 | -€22,779 | -16.1% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €123,165 | €260,388 | +€137,223 | +111% |
| Amounts receivable within one year | 40/41 | €50,877 | €138,409 | +€87,532 | +172% |
| Trade receivables | 40 | €50,877 | €136,103 | +€85,226 | +168% |
| Other amounts receivable | 41 | - | €2,306 | +€2,306 | |
| Cash at bank and in hand | 54/58 | €69,720 | €118,366 | +€48,646 | +69.8% |
| Deferred charges and accrued income | 490/1 | €2,568 | €3,613 | +€1,045 | +40.7% |
| Total equity and liabilities | 10/49 | €1,101,177 | €1,243,523 | +€142,346 | +12.9% |
| Equity | 10/15 | €86,407 | €239,383 | +€152,976 | +177% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,407 | €219,383 | +€152,976 | +230% |
| Amounts payable | 17/49 | €1,014,770 | €1,004,140 | -€10,630 | -1.0% |
| Amounts payable after more than one year | 17 | €683,467 | €642,111 | -€41,356 | -6.1% |
| Financial debts | 170/4 | €678,667 | €630,891 | -€47,776 | -7.0% |
| Other amounts payable | 178/9 | €4,800 | €11,220 | +€6,420 | +134% |
| Amounts payable within one year | 42/48 | €331,303 | €362,029 | +€30,726 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €46,128 | €47,777 | +€1,649 | +3.6% |
| Trade debts | 44 | €2,808 | €13,476 | +€10,668 | +380% |
| Suppliers | 440/4 | €2,808 | €13,476 | +€10,668 | +380% |
| Taxes, remuneration and social security | 45 | €67,923 | €96,666 | +€28,743 | +42.3% |
| Taxes | 450/3 | €37,532 | €33,523 | -€4,009 | -10.7% |
| Remuneration and social security | 454/9 | €30,391 | €63,143 | +€32,752 | +108% |
| Other amounts payable | 47/48 | €214,444 | €204,110 | -€10,334 | -4.8% |
| Remuneration, social security and pensions | 62 | €119,094 | €275,511 | +€156,417 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,206 | €78,902 | -€16,304 | -17.1% |
| Other operating charges | 640/8 | €10,389 | €9,575 | -€814 | -7.8% |
| Non-recurring operating charges | 66A | €12,891 | €0 | -€12,891 | -100% |
| Gross operating margin | 9900 | €283,465 | €586,989 | +€303,524 | +107% |
| Operating profit (loss) | 9901 | €45,885 | €223,001 | +€177,116 | +386% |
| Financial income | 75/76B | - | €619 | +€619 | |
| Recurring financial income | 75 | - | €619 | +€619 | |
| Financial charges | 65/66B | €25,800 | €24,272 | -€1,528 | -5.9% |
| Recurring financial charges | 65 | €25,800 | €24,272 | -€1,528 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €20,085 | €199,349 | +€179,264 | +893% |
| Income taxes | 67/77 | €6,688 | €46,372 | +€39,684 | +593% |
| Profit (loss) for the period | 9904 | €13,397 | €152,977 | +€139,580 | +1,042% |
| Profit (loss) for the period to be appropriated | 9905 | €13,397 | €152,977 | +€139,580 | +1,042% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.